This paper examines how accounting comparability affects investment efficiency and risk-allocation in the economy. We develop the statistical and informational properties of accounting reports under varying degrees of comparability. In our information economics framework, a perfectly comparable...

This paper examines the role of conservatism when an agent can manipulate upcoming earnings before all uncertainty is resolved. An increase in conservatism, by reducing the likelihood of favorable earnings, requires steeper performance pay to maintain the same level of incentives, which in turn...

For autonomous vehicles (AVs) to be widely commercialized, they must operate safely. Testing AVs on public roads helps improve their future safety, as it enables AV firms to discover rare and unknown driving scenarios (known as "edge cases"). However, edge cases can trigger AV failures (called...